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PTC Therapeutics announced that the underwriters of its previously announced public offering of 4M shares of its common stock, which closed on April 3, 2018, have exercised in full their option to purchase an additional 600,000 shares at the public offering price less underwriting discounts and commissions. After giving effect to the closing with respect to the additional shares, the total number of shares sold by PTC in the offering increased to 4.6M shares. All of the shares in the offering were sold by PTC. PTC's aggregate net proceeds from the offering are expected to be approximately $117.9M, after deducting underwriting discounts and commissions and estimated offering expenses. Credit Suisse and Citigroup acted as lead book-running managers for the offering. RBC Capital Markets also acted as a book-running manager.

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PTCTPTC Therapeutics

$27.56

0.87 (3.26%)

02/21/18

SBSH

02/21/18NO CHANGETarget $35SBSHBuy

PTC Therapeutics price target raised to $35 from $24 at Citi

Citi analyst Joel Beatty raised his price target for PTC Therapeutics to $35 on expectations that outside the U.S. Translarna sales and U.S. Emflaza sales growth will continue in 2018. Further, the analyst sees the potential for upside from additional Phase 2 data on spinal muscular atrophy agent RG7916 and from a trial design update on plans to generate dystrophin production data for Translarna in pursuit of accelerated approval. Beatty added U.S. Translarna sales back into his model, probability-adjusted at 10%, after yesterday's update from PTC that FDA will allow an accelerated approval pathway to be pursued for the drug. The analyst keeps a Buy rating on the shares.

04/03/18

LEHM

04/03/18DOWNGRADELEHMUnderweight

PTC Therapeutics downgraded to Underweight from Equal Weight at Barclays

04/03/18

LEHM

04/03/18DOWNGRADETarget $26LEHMUnderweight

Barclays downgrades PTC Therapeutics to Underweight with $26 target

Barclays analyst Gena Wang downgraded PTC Therapeutics to Underweight from Equal Weight while raising her price target for the shares to $26 from $24. The stock closed the trading day up 15c to $26.12. The analyst sees limited upside to 2018 revenue expectations and believes PTC's growth trajectory is fully priced in at current valuation levels.

04/04/18

04/04/18DOWNGRADE

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. PTC Therapeutics (PTCT) downgraded to Underweight from Equal Weight at Barclays with analyst Gena Wang saying she sees limited upside to 2018 revenue expectations and believes PTC's growth trajectory is fully priced in at current valuation levels. 2. Cloudera (CLDR) downgraded to Neutral from Overweight at JPMorgan and to Hold from Buy at Deutsche Bank. 3. Domino's Pizza (DPZ) downgraded to Hold from Buy at Deutsche Bank with analyst Brett Levy citing valuation. 4. Virtusa (VRTU) downgraded to Hold from Buy at SunTrust with analyst Frank Atkins saying while Virtusa stock has risen 166% since November of 2016, future upside may be more limited. 5. ResMed (RMD) downgraded to Neutral from Buy at Citi with analyst Victor Windeyer citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, Reference Link